Bloomberg Surveillance 5/15/2026

Смотреть на YouTube ↗ | 18 мая 2026, 21:36 | 2:24:17 | Bloomberg Markets

Спикеры

Sebastien Page — Директор по инвестициям и глава отдела глобальных мультиактивов, T. Rowe Price

Dan Ives — Управляющий директор, Wedbush Securities

Alastair Pinder — Глобальный стратег по акциям, HSBC

Lorraine Hutchinson — Старший аналитик ритейла, BofA Securities

Scott Chronert — Управляющий директор, Citi

Ted Mortonson — Старший аналитик-исследователь, Baird

Ola (UBS) — UBS

Subadra Rajappa — Глава отдела исследований, Societe Generale

Jonathan Ferro — Ведущий, Bloomberg Television

The episode covers a global bond sell-off as inflation fears intensify, with US 10-year yields breaking above 4.50% and UK/Japanese yields hitting multi-decade highs. Equities pull back from record highs, but earnings strength and the AI theme remain powerful. Guests discuss hedging inflation, overweighting US large cap growth, Korean memory stocks, and off-price retailers, while the market awaits incoming Fed Chair Kevin Walsh's reaction function. - Global bond yields surge on hot PPI prints and oil price shock; US 10-year passes 4.50%. - Equities slip from all-time highs, with NASDAQ down ~1.5% weighed by tech and semis. - Sebastian Page advises hedging inflation via cash, short duration, energy/metals equities. - Alistair Pinder is bullish on Korean memory stocks (Samsung, SK hynix) at 6x earnings. - Lorraine Hutchinson expects off-price retailers (TJX, Ross, Burlington) to benefit from trade-down. - Dan Ives sees AMD rising 15-20% and NASDAQ 30,000 within 6-9 months on AI demand. - Scott Croner recommends the NASDAQ 100 as the preferred AI play. - UK political turmoil and Japan's hot PPI add to global bond market jitters.

Идеи

Sebastien Page Директор по инвестициям и глава отдела глобальных мультиактивов, T. Rowe Price 4:23

Hedge inflation with cash, short duration, real assets.

Diversify hedges against inflation risk because Treasuries won't work in an inflation volatility environment. The portfolio should hold cash, be short duration, own real asset equities (energy and metal companies), and use hedged equities to stay invested while protecting against inflation shocks.

Sebastien Page Директор по инвестициям и глава отдела глобальных мультиактивов, T. Rowe Price 8:23

Long US large cap growth for AI.

Move money from international to US large cap growth stocks as the best expression of the AI theme. Earnings growth is 28% for the next 12 months, margins are high, and valuations are below the 5-year average. These stocks tend to meet high bars.

Dan Ives Управляющий директор, Wedbush Securities 35:34

AMD up 15-20% on AI demand.

AMD is a key beneficiary of the AI chip super cycle and will move 15-20% higher from current levels. Demand for AI infrastructure continues to accelerate, and AMD is gaining share.

Dan Ives Управляющий директор, Wedbush Securities 35:55

NASDAQ to 30,000 on AI boom.

The NASDAQ 100 is the preferred play on the AI buildout because fundamental expectations continue to improve and earnings growth provides a strong underpin. It is the best direct expression of the AI theme.

Alastair Pinder Глобальный стратег по акциям, HSBC 58:18

Korean memory stocks at 6x earnings.

Korean memory names (Samsung, SK hynix) are a compelling AI play because they trade at only 6x earnings and have entered 3-5 year long-term supply agreements with hyperscalers, providing rare earnings visibility. 20% of hyperscaler capex flows to Korean memory.

Lorraine Hutchinson Старший аналитик ритейла, BofA Securities 79:14

Off-price retailers gain from trade-down.

Off-price retailers like TJX, Ross, and Burlington will benefit as consumers trade down due to elevated gas prices. Off-price behaves like a necessity and captures upper-income shoppers seeking value.

TJX BURL ROST Выс.